Anju Chirania vs. ITO, Ward –4(1)(3)

Parties Involved

Facts Summary

The assessee, Anju Chirania, filed an appeal against the order of the National Faceless Appeal Centre (NFAC), Delhi / CIT(A) passed under sections 147, 144B, and 250 of the Income Tax Act. The assessee challenged the reopening of assessment and the addition of income under section 69A. The assessee claimed that the addition was based on the investigation wing's report without independent verification and that the transactions were genuine and conducted through recognized stock exchanges. The assessee provided documentary evidence to support the genuineness of the transactions.…

Legal Issues

• 1. Whether the Ld. Commissioner of Income Tax (Appeals) erred in confirming the reopening of assessment under section 147.
• 2. Whether the Ld. Commissioner of Income Tax (Appeals) erred in confirming the addition under section 69A of the Income Tax Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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